Exclusive:Representatives of the Italian energy company Eni, that recently discovered gas fields off the Egyptian coast,are expected to meet with Israel’s PM this week on preliminary talks on a tri-national energy accord.
By Tal Shalev
Italy has proposed a joint Italian-Israeli-Egypt cooperation on natural gas, i24news has learned. Representatives of the Italian energy company Eni are expected to arrive in Israel this week and will be meeting with Israeli Prime Minister Benjamin Netanyahu and Energy Minister Yuval Steinitz to discuss ideas for joining forces on gas exports to Europe.
The issue was first discussed by Netanyahu and Italian Prime Minister Matteo Renzi in their August 30 meeting in Florence, which took place hours after Cairo announced the historic discovery of a natural gas field off the coast of Egypt. Continue Reading »
In a major deal with Berlin, announced a day before Israel & Germany mark 50 years of diplomatic relations, they will provide the IDF with 4 vessels to protect Israel’s offshore gas rigs.
By Yoav Zitun
Defense Minister Moshe Ya’alon and German Defense Minister Ursula von der Leyen signed a contract Monday under which Israel will purchase four ships from Germany to protect its offshore gas rigs. The total cost of the vessels is estimated at about NIS 1.8 billion. The German government will finance a third of the deal, which was announced a day before Israel and Germany will mark 50 years of diplomatic relations. Continue Reading »
The visit to Israel this week of Özdil Nami, foreign minister of the self-styled Turkish Republic of Northern Cyprus, has landed Israel in hot water with its ally in the southern part of the divided island.
Özdil Nami – Photo Courtesy TRNC Foreign Ministry
Nami was a keynote speaker at the Israel Energy and Business Convention 2014 in Tel Aviv – at exactly the same time that Foreign Minister Avigdor Lieberman was visiting Cyprus and meeting with his Cypriot counterpart Ioannis Kasoulides. Continue Reading »
The national consensus holds that the discoveries of huge offshore natural gas fields in recent years amount to an economic revolution, one that will put the economy on easy street for generations to come. A leading British energy expert, however, says it’s an illusion.
Drilling at the Leviathan natural gas field off the Mediterranean shore. – Photo: Courtesy Albatross
“Exporting gas as LNG [liquefied natural gas] is very expensive. Israeli gas isn’t competitive enough to compete with LNG from other countries,” says Nick Butler, one-time senior energy adviser to former Prime Minister Gordon Brown, and former vice president for strategy and policy development at British Petroleum Group, in an interview with Globes’ Hedy Cohen.
The size of natural gas reserves in Israel’s Leviathan offshore natural-gas field is 16.4% bigger than previously estimated, partners in the field said on Sunday.
Drilling platform of the Leviathan natural gas field. – Photo: Albatross
Based on an updated analysis by consultant Netherland Sewall & Associates, the reserves’ “best estimate” was increased to 21.93 trillion cubic feet (620 billion cubic meters) from 18.91 tcf. The high estimate was raised by 10% to 26.52 tcf, while the low estimate was increased by 11% to 16.58 tcf.
The Egyptian petroleum minister said Wednesday he is fine with allowing British BG Group to import gas from Israel, Daily News Egypt reported.
An Israeli gas platform in the Mediterranean Sea, February 25, 2013. – Photo: Reuters
“As the minister of petroleum, I remain of the opinion that there is no problem in letting BG Group import Israeli gas to protect Egypt from international fines and arbitration,” said Sherif Ismail. He noted the company has yet to ask for government approval to start importing gas, according to the Egyptian daily.
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